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The EIB, the European Union's bank, is seeking to recruit for its Transaction Management and Restructuring Directorate (TMR) - Counterparty Management Department (CM) - Infrastructure and Basic Industries Division (INFRA&BI)/ Manufacturing and Services Division (MANUF&SERV) at its headquarters in Luxembourg, a (Associate) Credit Officer. This is a full time position at grade 4/5. The term of this contract will be 4 years. Panel interviews are anticipated for end of September. The EIB offers fixed-term contracts of up to a maximum of 6 years, according to business needs, with a possibility to convert to a permanent contract, subject to organisational requirements and individual performance.
Purpose Under the supervision of the Head of Division/Head of Unit, the (Associate) Credit Officer, internally referred to as (Associate) Financial Monitoring Officer, will carry out a regular financial monitoring of a portfolio of signed EIB lending operations, mainly through Financial Reviews of counterparts (borrowers or guarantors) and Contract Reviews (verification of contractual clauses and covenants), in order to contribute to an understanding of EIB exposure to risks and to identify breaches or contractual events. You will propose event resolutions for standard and complex post signature events, thereby ensuring the stability and solidity of the Bank's portfolio of outstanding loans.
Specific Post Environment TMR monitors counterparts and financial contracts and acts on contractual events under its responsibility, as well as on distressed transactions in order to protect the EIB's financial interest and reputation. The Directorate is responsible for the financial monitoring, event resolution, divestment and restructuring of (i) EU/non-EU debt counterparts, (ii) equity funds, equity-type and subordinated instruments after disbursement/investment or signature, as applicable (iii) distressed transactions restructuring and recovery. TMR is also responsible for developing and updating Bank-wide Financial Monitoring guidelines. TMR/CM/INFRA&BI and TMR/CM/MANUF&SERV are responsible for the financial coverage of the corporates in the EU and outside the EU as borrowers, guarantors or underlying risk counterparts. EIB's corporate loan portfolio is split between the two Divisions according to sectors. TMR/CM/INFRA&BI is focussed on corporates acting in infrastructure and basic industries (e.g. energy and mining) and TMR/CM/MANUF&SERV on the ones acting in the manufacturing and services industries.
Operating Network You will cooperate closely with other Directorates, Departments and Divisions across the Bank, in particular with Ops, JU, RM, PJ and with the other Divisions in TMR (with which frequent exchanges take place on knowledge and practices), notably with the other Division covering corporate risk and with the Restructuring & Resolutions Division, to which distressed cases are transferred. S/he will also have external contact with counterparts, other transaction stakeholders, co-lenders, agents, shareholders, borrowers, sponsors and sector experts. Each of the two Divisions is organised in three Units of analysts, and each successful candidate will be allocated to one of the Units and will report to the respective Head of Unit.
Accountabilities Under the supervision of the assigned Head of Unit, the selected candidate will:
Carry out, according to an agreed programme, reviews of corporate counterparts, assess their credit standing, and propose internal counterpart ratings
Monitor the contracts of these counterparts, review the guarantees in place and check the counterparts' compliance with the protective clauses included in the loan documentation
Handle client contact, including organising and participating in financial monitoring visits (to be noted that some missions might be outside of Europe)
Propose solutions/remedies to contractual breaches and participate in their implementation, working with colleagues in other EIB Directorates and with external co-financiers as appropriate
Perform ad hoc reviews, if necessary, in response to external market events
Collaborate and handling activities with the RM/OPE, Ops, JU and other Directorates/Divisions, in particular the other Divisions of TMR/CM and the Restructuring & Resolutions Division (TMR/TM/RR)
Contribute to the Division's regular reports, in particular Watch List reports
Check and, when necessary, update in a timely and accurate manner the data related to the assigned portfolio in the Bank's IT systems
Closely follow on-going developments in the relevant industry sector(s), and specific EIB counterparts in such sector(s)
Carry out any ad-hoc information request and/ or potential horizontal task assigned by the management
University degree in Business Administration, Finance or Economics
A minimum of 3 years of experience in a similar role in banking, finance or with a rating agency i.e. credit/financial analysis and ideally the assessment of contractual compliance
Solid experience in financial analysis (preferably corporates), credit risk assessment principles, counterpart rating criteria and the key contractual clauses used in loan documentation
Ability to address waivers and amendments of contractual clauses, often under tight deadlines
Understanding of the EIB's mission, policies, procedures, organization and activities
Knowledge of standard computer tools (advanced Excel skills would be an advantage)
Fluency in English and/or French (*) and a good command of the other. Solid knowledge of other EU languages (most notably Italian, Spanish or German) would be a strong asset
Competencies Find out more about EIB core competencies here (*) There may be certain flexibility on this requirement, but limited to particularly suitable candidates who may not yet be proficient in French. If selected, such candidates will be hired on the condition that they build up rapidly knowledge of French and accept that their future career in the EIB may be subject to the attainment of sufficient proficiency in both of the Bank's working languages We are an equal opportunity employer, who believes that diversity is good for our people and our business. As such, we promote the inclusion of suitably qualified and experienced staff without regard to their gender, age, racial or ethnic origin, religion or beliefs, sexual orientation/identity, or disability (*). By applying for this position you acknowledge the importance of maintaining the security and integrity of the Information of the EIB Group. In case of selection for the position you agree to comply with all measures (policies, controls, document classification and management) implemented by the EIB Group to prevent unauthorized disclosure of any information or any damage to the EIB Group reputation. Deadline for applications: 14 th August 2020 (*). We particularly welcome applications from women and persons with disabilities. #LI-POST